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mihalych1998 [28]
3 years ago
13

PLEASE HELP!!! PLEASEEEE ASAPPPP

Mathematics
1 answer:
Snezhnost [94]3 years ago
6 0
At is yes I think sorry if I get it wrong
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In year, 2004, I put $20.00 into an account to save. This account annual interest fee is 0.002%. However, every 10th year the in
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Answer:

  $20.01

Step-by-step explanation:

In 2004–2012, the interest rate is 0.002%. In 2013, it is 0.004%. In 2014–2021, the interest rate is 0.002%. That is, in the 18 years between 2004 and 2021 (inclusive), the interest rate is 0.002% for 17 of them. The effective account multiplier is ...

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<em>Additional comment</em>

The annual interest earned on $20.00 is $0.0004. If the account balance is rounded to the nearest cent annually, at the end of the 18 years, the balance will still be $20.00. Not enough interest is earned in one year to increase the balance above $20. At the end of the 18 years, the amount of interest earned is 0.76¢ (a fraction of a penny) <em>only if there is no rounding in intervening years</em>.

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